I totally agree that market solutions aren't perfect. I alluded to some legal fixes in place, but there are of course many others, some of which address concern

I totally agree that market solutions aren't perfect. I alluded to some legal fixes in place, but there are of course many others, some of which address concerns you raised -- fitness for purpose, abuse of market power, varying levels of employee protection and representation depending on jurisdiction. These things are clearly patches, though. The logic of the system is that companies operate on the behalf of their owners, with some sharp edges filed off to handle perverse incentives. I guess this organisation wasn't chosen for its competitive advantage (probably rather just a legal&historical accident) but it seems to be doing better than anything else we've tried -- worker co-ops, non-profits etc.